Abu Dhabi Global Market grew its assets under management by a record 35 per cent in the first half of 2023. Khushnum Bhandari / The National
Abu Dhabi Global Market grew its assets under management by a record 35 per cent in the first half of 2023. Khushnum Bhandari / The National
Abu Dhabi Global Market grew its assets under management by a record 35 per cent in the first half of 2023. Khushnum Bhandari / The National
Abu Dhabi Global Market grew its assets under management by a record 35 per cent in the first half of 2023. Khushnum Bhandari / The National

Abu Dhabi's Chimera launches alternative investment firm with over $50bn in assets


Sunil Singh
  • English
  • Arabic

Chimera Investment, an Abu Dhabi-based private organisation, has launched an independent alternative investment company, Lunate, with more than $50 billion in assets under management, to tap into investment opportunities globally.

The new company, which will be based at the Abu Dhabi Global Market, will target global opportunities across private equity, venture capital, private credit, real assets, public equities, and public credit markets, according to a statement on Friday.

Lunate will be owned by Chimera Investment and Lunate’s senior management.

With plans to start operations in the fourth quarter, Lunate said it would provide multi-asset class investment solutions for its clients, which include institutional investors, pension funds, family offices and other investment firms.

The firm will bring "differentiated and innovative private and public market solutions to the region and beyond from our home base in Abu Dhabi”, Seif Fikry, managing partner at Lunate, said.

“Lunate will launch new products to further grow our assets under management while we continue managing legacy products on behalf of our clients,” he said.

The company said it signed long-term separate managed accounts with multiple clients at the time of launch “with commitments to manage their existing assets and deploy new capital”.

Lunate aims to deploy capital through a combination of strategies such as limited partnership, co-investments and direct investment opportunities.

It expects to expand globally and open offices in North America, Europe and Asia.

The global alternative investment industry is growing, with assets under management expected to nearly double to $23.21 trillion by 2026, from an estimated $13.32 trillion at the end of 2021, a report by investment data company Preqin found.

ADGM, the region's fastest-growing financial hub, grew its assets under management by a record 35 per cent in the first half of 2023, underscoring its position as the region's fastest-growing financial hub.

A total of 102 asset managers, comprising investment firms and hedge funds, which manage 128 funds, set up shop in the capital’s financial centre during the six-month period, ADGM said on Thursday.

Abu Dhabi's economy has gone from strength to strength, and authorities have introduced several programmes to attract market players from around the world to set up business in the emirate and take advantage of its entrepreneurial infrastructure and friendly regulations.

The UAE capital’s non-oil economy grew by 6.1 per cent annually in the first quarter of the year, with the sector's gross domestic product reaching the highest level in nine years, on the back of its strong diversification push, according to Statistics Centre Abu Dhabi.

Meanwhile, AUMs in the GCC are projected to expand above the global average to hit about $500 billion in onshore assets by 2026, from $400 billion at the end of 2022, PwC unit Strategy& said in a report last month.

INDIA SQUAD

Virat Kohli (capt), Rohit Sharma, Shikhar Dhawan, KL Rahul, Vijay Shankar, MS Dhoni (wk), Kedar Jadhav, Dinesh Karthik, Yuzvendra Chahal, Kuldeep Yadav, Bhuvneshwar Kumar, Jasprit Bumrah, Hardik Pandya, Ravindra Jadeja, Mohammed Shami

Sanju

Produced: Vidhu Vinod Chopra, Rajkumar Hirani

Director: Rajkumar Hirani

Cast: Ranbir Kapoor, Vicky Kaushal, Paresh Rawal, Anushka Sharma, Manish’s Koirala, Dia Mirza, Sonam Kapoor, Jim Sarbh, Boman Irani

Rating: 3.5 stars

Your Guide to the Home
  • Level 1 has a valet service if you choose not to park in the basement level. This level houses all the kitchenware, including covetable brand French Bull, along with a wide array of outdoor furnishings, lamps and lighting solutions, textiles like curtains, towels, cushions and bedding, and plenty of other home accessories.
  • Level 2 features curated inspiration zones and solutions for bedrooms, living rooms and dining spaces. This is also where you’d go to customise your sofas and beds, and pick and choose from more than a dozen mattress options.
  • Level 3 features The Home’s “man cave” set-up and a display of industrial and rustic furnishings. This level also has a mother’s room, a play area for children with staff to watch over the kids, furniture for nurseries and children’s rooms, and the store’s design studio.
     

A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
Two stars

UAE currency: the story behind the money in your pockets
F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 

ENGLAND TEAM

England (15-1)
George Furbank; Jonny May, Manu Tuilagi, Owen Farrell (capt), Elliot Daly; George Ford, Ben Youngs; Tom Curry, Sam Underhill, Courtney Lawes; Charlie Ewels, Maro Itoje; Kyle Sinckler, Jamie George, Joe Marler
Replacements: Luke Cowan-Dickie, Ellis Genge, Will Stuart, George Kruis, Lewis Ludlam, Willi Heinz, Ollie Devoto, Jonathan Joseph

Coal Black Mornings

Brett Anderson

Little Brown Book Group 

UAE squad

Ali Kashief, Salem Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdelrahman, Mohammed Al Attas (Al Jazira), Mohmmed Al Shamsi, Hamdan Al Kamali, Mohammad Barghash, Khalil Al Hammadi (Al Wahda), Khalid Eisa, Mohammed Shakir, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Adel Al Hosani, Al Hassan Saleh, Majid Suroor (Sharjah), Waleed Abbas, Ismail Al Hammadi, Ahmed Khalil (Shabab Al Ahli Dubai) Habib Fardan, Tariq Ahmed, Mohammed Al Akbari (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Mahrami (Baniyas)

6.30pm Meydan Classic Trial US$100,000 (Turf) 1,400m

Winner Bella Fever, Dane O’Neill (jockey), Mike de Kock (trainer).

7.05pm Handicap $135,000 (T) 1,400m

Winner Woven, Harry Bentley, David Simcock.

7.40pm UAE 2000 Guineas Group Three $250,000 (Dirt) 1,600m

Winner Fore Left, William Buick, Doug O’Neill.

8.15pm Dubai Sprint Listed Handicap $175,000 (T) 1,200m

Winner Rusumaat, Dane O’Neill, Musabah Al Muhairi.

8.50pm Al Maktoum Challenge Round-2 Group Two $450,000 (D) 1,900m

Winner Benbatl, Christophe Soumillon, Saeed bin Suroor.

9.25pm Handicap $135,000 (T) 1,800m

Winner Art Du Val, William Buick, Charlie Appleby.

10pm Handicap $135,000 (T) 1,400m

Winner Beyond Reason, William Buick, Charlie Appleby.

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20myZoi%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Syed%20Ali%2C%20Christian%20Buchholz%2C%20Shanawaz%20Rouf%2C%20Arsalan%20Siddiqui%2C%20Nabid%20Hassan%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2037%3Cbr%3E%3Cstrong%3EInvestment%3A%3C%2Fstrong%3E%20Initial%20undisclosed%20funding%20from%20SC%20Ventures%3B%20second%20round%20of%20funding%20totalling%20%2414%20million%20from%20a%20consortium%20of%20SBI%2C%20a%20Japanese%20VC%20firm%2C%20and%20SC%20Venture%3C%2Fp%3E%0A
Updated: September 15, 2023, 10:49 AM`